Solis Minerals (ASX:SLM) announced a major strategic advancement at its Cucho Copper Project in Peru, confirming that a comprehensive geological review has unlocked "high exploration potential."
Following a renegotiation of commercial terms to better align milestone payments with operational progress, the company is now moving aggressively toward a maiden drilling campaign, with permits currently being finalised for a late H1 2026 start date.
The optimism surrounding Cucho is rooted in historical drilling data—covering 2,000m across seven shallow holes—which revealed substantial mineralised intercepts.
Results include 269.1m @ 0.25% Cu from surface (COP14-07) and 169.7m @ 0.24% Cu (COP14-01). High-grade zones within these intercepts, such as 33m @ 0.41% Cu, suggest the presence of a significant porphyry system with genuine scale.
CEO Mitch Thomas highlighted the project's importance against the backdrop of record-high copper prices, stating that the upcoming drilling aims to demonstrate the system's full potential and fast-track the project toward a formal resource discovery.